Mojo ♻️Finally, someone’s making foreign investors pay their fair share on Australian land and resources. Chalmers’ move to close loopholes in the 30% CGT on property-related assets — even retrospectively — is spot on. Our mining, energy & infrastructure belong to Australians first, not overseas profiteers gaming the system. Tax certainty is nice, but so is stopping billions in untaxed gains leaving the country. Good on him for standing firm.
Australia had the potential to be an export powerhouse, the richest country in the world—full stop. We have everything we need. But instead, we're facing the greatest erosion of wealth in the developed world, with a cost-of-living crisis like no other. We've practically given our resources away, and now, someone else is reaping the benefits.
#costoflivingcrisis #australia #wealthinequality #economicjustice #australianresources #auspol #wealtherosion #export
https://www.macrobusiness.com.au/2024/10/australia-should-be-the-richest-nation-on-earth/
Australia should be the richest nation on earth
Freelancer CEO Matt Barrie was interviewed by the Equity Mates podcast, where he argued that “Australia has all the resources and potential to be the wealthiest country in the world”. However, policymakers have instead delivered a “cost of living crisis instead”. Here are some of the interview’s key highlights, followed by my own additions. Edited